Investcorp Buys Stake in Private Equity Firm Centre Lane (1)

Investcorp took a passive minority position in private equity firm Centre Lane Partners, the latest investment for the alternative-asset manager in the booming world of stake sales.

The deal was completed by Investcorp’s strategic capital group, the New York-based unit that buys holdings in midsize general partners, according to a statement Wednesday. Centre Lane plans to use the capital to expand its private-credit and special-opportunities platforms and to increase capital commitments toward its strategies. Terms of the transaction weren’t disclosed.

Firms are buying stakes in alternative-asset managers as investors seek different sources of yield and as aging founders look ...